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1.Market Observations, 8.Was Sticky

26 Sept 2016 (AFR) – Sydney property auctions still going ‘berserk’

(26 September 2016, AFR, p3, by Su-Lin Tan)

‘The Reserve Bank of Australia and the Australian Prudential Regulation Authority will need to “act soon” if strong auction clearance rates continue, SQM Research managing director Louis Christopher says.  The rise in volume of properties for sale – expected during this time of the year during the spring selling season – has not eventuated, and is likely to add more pressure to property prices, he added. ‘ <snipped…>

‘According to Corelogic, over the first four weeks of spring this year, auction clearance rates have been consistently higher than corresponding weeks last year and auction volumes were 20 per cent lower. ‘

Read more at AFR.com (might need AFR login access, or try: AFR.com/trial)

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